Gluten free snacks market Drivers Shaping Future Growth, Revenue $1.8 Billion by 2031 | CAGR 8.3%

The demand for gluten free snacks has grown in recent years. People's adherence to gluten free diets has increased.

PORTLAND, OR, US, March 24, 2023 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Gluten Free Snacks Market by Product Type (Nutrition Bars, Candy Bars, Salty Snacks, Nuts, and Others), by Distribution Channel (Convenience Stores, Supermarket and Hypermarket, Specialty Stores, Drugstores and Pharmacies, E commerce, and Others), and by Generation (Millennial, Generation X, and Baby Boomers): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global gluten free snacks industry was estimated at $843.6 million in 2021, and is set to reach $1.8 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, restraints, and opportunities

Growing awareness about gluten intolerance along with surging awareness about health consciousness among the global population will boost the growth of the global gluten free snacks market. Furthermore, a surge in the number of celiac patients and gluten-related allergies will create huge demand for gluten free snacks. In addition, the surging popularity of convenience diets among the millennial population will create new growth avenues for the global industry. However, huge product costs and easy availability of substitute food products such as functional foods and food supplements can put brakes on the global industry.

Regional Analysis:

Europe to retain global market domination over 2022-2031

By Region, Europe contributed notably toward the global gluten free snacks market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global gluten free snacks market share in 2021. The same region is slated to contribute significantly toward the global market size in 2031. The growth of the regional market over the anticipated timeline is owing to rise in product penetration in countries such as Germany and surging product demand from millennial population in Europe.

Leading Key Players Are:

The players operating in the global gluten free snacks industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Freedom Foods Group Limited, General Mills, Inc., Kellogg Company, Koninklijke Wessanen N.V, Mondelez International Inc, ConAgra Foods Inc, Quinoa Corporation, The Hain Celestial Group, Inc, The Kraft Heinz Company and Valeo Foods Group Ltd.

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According to distribution channel, the convenience stores segment was the significant contributor to the gluten free snacks market, with $145.2 million in 2021 and is expected grow at a CAGR of 5.1% during the forecast period. The key impacting factor driving this distribution channel segment is easy accessibility. The convenience stores are conveniently placed and remain open for longer hours. This makes convenience stores a popular option for customers who do not want to spend time traveling long distances for gluten free snacks.

Reason to Buy:

✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Gluten free snacks market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Gluten free snacks market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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The demand for gluten free snacks has grown in recent years. People's adherence to gluten free diets has increased, in part because of greater awareness of gluten related illnesses, particularly celiac disease, but primarily because of the common notion that a gluten free diet is better.

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